- Eagle Mountain Mining's (EM2) wholly owned subsidiary, Wedgetail Operations, has secured an access agreement for exploration in Arizona
- Pima County granted Wedgetail access to conduct low-disturbance activities at its patented claims near the Oracle Ridge Project
- The Golden Eagle prospect area covers multiple claims and is prospective for gold, copper and silver mineralisation
- Additionally, the agreement extends into Pima County's patented claims, which are part of the OREX project and host skarn-hosted copper mineralisation
- Wedgetail will begin field work this month, which will be followed by diamond drilling in the June quarter
- Eagle Mountain Mining is up 4.26 per cent and shares are trading at 49 cents
Eagle Mountain Mining's (EM2) wholly owned subsidiary, Wedgetail Operations, has secured an agreement to gain access to the Golden Eagle prospect area.
The Golden Eagle area is prospective for gold, copper and silver mineralisation and includes multiple historical gold-copper mines. It is also located less than three kilometres from the Oracle Ridge mine, which is part of Eagle Mountain Mining's 80-per-cent-owned Oracle Ridge Copper Project.
Additionally, the agreement extends into patented gold-copper claims that are owned by Pima County in Arizona. These claims lie within the unpatented OREX project area which is prospective for skarn-hosted copper mineralisation.
Under the access agreement, the company will be able to conduct high-level field mapping and collect rock-chip samples. Other than mapping and hand sampling, the company isn't authorised to cause any ground disturbance.
Wedgetail won't be required to pay any form of consideration to Pima County, and the deal will expire in December this year but may be renewed.
Specifically, the Arizona-based subsidiary will undertake geological mapping and soil sampling this month. Following this, Wedgetail will initiate a diamond drilling program at its patented claims to target extensions to existing gold-copper mineralisation.
The drilling program is expected to begin late in the June quarter.
Eagle Mountain Mining is up 4.26 per cent and shares are trading at 49 cents at 2:35 pm AEDT.